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Deals Buzz: Treebo Hotels raises Rs220 crore

LiveMint logoLiveMint 30-08-2017 Kavya Kothiyal

Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.

Mitsui set to pick up stake in OMC Power

In perhaps the first such deal in India’s mini-grid space, Japan’s Mitsui and Co. will acquire a stake in OMC Power Pvt. Ltd, reports Mint citing two people aware of the development. The 1 billion Japanese yen (about Rs59 crore) investment is also a first by one of Japan’s largest companies in India’s renewable energy sector. Read more

Aurobindo Pharma in talks to buy Shreya Life Sciences’s Russia business

Aurobindo Pharma Ltd is in talks to buy the Russia business of Mumbai-based Shreya Life Sciences Pvt. Ltd in a deal potentially valued at between $80 million and $100 million, reports Mint citing two people aware of the discussions. Read more

Manyavar to buy Mebaz after talks to acquire Soch fall through

Vedant Fashions Pvt. Ltd, owner of the ethnic wear brand Manyavar, is set to acquire Hyderabad-based rival Mebaz after talks to acquire womenswear brand Soch fell through, reports Mint citing two people aware of the development on condition of anonymity. Read more

Dixon Technologies to launch Rs600 crore IPO on 6 September

Dixon Technologies (India) Ltd, a contract manufacturer of electronic products, on Tuesday said it will be launching its Rs600 crore initial public offering on 6 September. Dixon, backed by Motilal Oswal Private Equity (MOPE), provides manufacturing services for products such as LED TVs, semi-automatic washing machines, lighting products and mobile phones. Read more

HCL Infosystems to raise Rs500 crore from existing shareholders

HCL Infosystems on Tuesday said its board had approved a plan to raise up to Rs500 crore from its existing shareholders, reports PTI. The company in a filing to BSE said that its board in a meeting held on Tuesday approved the recommendations of its capital raising committee to go for a rights issue of shares to existing shareholders “as a mode of raising equity capital aggregating up to Rs500 crore”. Read more

Treebo Hotels raises Rs220 crore led by HK hedge funds

Treebo Hotels, which calls itself a tech-backed budget hotel chain, has scooped up Rs220 crore in new investment led by Hong Kong-based hedge funds Ward Ferry Management and Karst Peak Capital as it fights out with rivals like Oyo Rooms and FabHotels, reports TOI. Read more

Infosys finally comes to Bengal with Rs 100 crore investment

Infosys will set up its first campus in the state with an “initial investment” of Rs 100 crore. The announcement, by chief minister Mamata Banerjee on Tuesday, ends a nine-year deadlock for the IT giant’s maiden venture in Bengal, reports TOI. Read more

Banerjee on Tuesday claimed Infosys Ltd had agreed to start construction of its proposed development centre in Kolkata, even without the state granting the company permission to turn it into a special economic zone (SEZ). Read more

China’s postal bank plans Shanghai listing, seeks to raise $785M

State-owned Postal Savings Bank of China, the country’s biggest lender by branches, said it was planning a Shanghai listing, seeking to raise around $785 million, reports Reuters. The move follows its Hong Kong listing last year in which the bank raised $7.4 billion - the world’s biggest IPO since Alibaba’s US listing in 2014. Read more

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